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How does the Government use fiscal policy to influence the economy? Discuss the view that the Government ought to aim to balance its budget.
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A: How does the Government use fiscal policy to influence the economy? B: Discuss the view that the Government ought to aim to balance its budget. A: The government can use fiscal policy in a number of ways to influence different aspects of the economy. By changing key policies, the government can encourage the economy to change the way it is working. If the economy is a bit sluggish and people are not spending very much so that businesses are not growing, then the government may decide to use a reflationary set of policies designed to get the economy growing. They can do this by lowering taxes or by keeping taxes at the same level and instead spending more money with businesses and producers within the economy. Alternatively, if the economy is doing particularly well and growing significantly the government may be worried that there is a risk of inflation so they...
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